History
The airline was established in 1987 as Business Air and started operations in August 1987. In 2001 it changed its name to BMI Regional.
As a subsidiary of BMI, BMI Regional was previously owned by Sir Michael Bishop (50%), Lufthansa (30%) and Scandinavian Airlines (20%). Lufthansa purchased Sir Michael Bishop and SAS' stakes in October 2009, taking full ownership of the airline group. A restructuring of the group was announced the following month, which also affected BMI Regional's operations. A suspension of loss-making routes and capacity adjustments within the group resulted in BMI Regional having a surplus of three Embraer aircraft in 2010, and the company began consultations with staff over possible job losses. The excess aircraft were leased to other carriers.
In March 2012 BMI Regional was named the most punctual scheduled airline at UK airports for the seventh consecutive year, based on Civil Aviation Authority statistics for 2011.
Lufthansa sold BMI to British Airways' parent company IAG in April 2012 although IAG sought to sell BMI Regional and Bmibaby. In May, it was announced that BMI Regional was to be sold to the Aberdeen based consortium Sector Aviation Holdings for £8 million. The sale was completed on 1 June 2012.
Under the new ownership, the airline has rented a new headquarters at East Midlands Airport, and will take on 40 new members of staff at the airport. BMI Regional also introduced new routes between Aberdeen and Bristol, and Manchester and Antwerp as part of a new winter timetable, launched on 29 October 2012.
Read more about this topic: BMI Regional
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